Not-for-profit Accounting : Reporting and Analysis
Field of Study:
Business organizations obtain resources by providing goods and services. Many not-for-profit organizations (NFPOs) obtain resources from contributors and are accountable to the providers of those resources or to their representatives. In general, GAAP requires NFPOs to issue a statement of financial position, a statement of activities, and a statement of cash flows. The focus is on the organization as a whole and on reporting assets, liabilities, and net assets; changes in net assets; flows of economic resources; cash flows, borrowing and repayment of borrowing, and other factors affecting liquidity; and service efforts. This course addresses the accounting and financial reporting for NFPOs (or NPOs) colleges and universities, healthcare providers, voluntary health and welfare organizations (VHWOs), and other not-for-profit entities such as religious, educational, social, and recreational entities. Also addressed is financial analysis and ratios that can be useful to analyze the financial fitness of NFPOs.
After completing this course you will be able to:
- Recognize the types of and components of financial statements mandated by GAAP for not-for-profit organizations.
- Identify the difference between net assets with donor restrictions and net assets without donor restrictions for an NFPO and how these organizations should report contributions and other revenue sources.
- Identify reporting requirements of higher education.
- Recognize the financial statement reporting requirements for revenue for healthcare providers.
- Identify the auditing of and reporting requirements on the financial statements of governmental voluntary health and welfare organizations (VHWOs).
- Recognize the typical funds used to account for VHWO transactions.
- Recognize the reporting on the financial statements of other not-for-profit organizations (ONFPOs).
- Calculate depreciation financial reporting for ONFPOs.
- Recognize different examples of trend analysis.
Basic to Intermediate
Type of delivery method:
Recommended CPE credits:
Final examination expiration date:
The program participant will have one year from the date of purchase to complete the course and final examination.
Web CPE is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org